China will extend a total of $60 billion of financing to Africa, Chinese President Xi Jinping announced Monday.

British Prime Minister Theresa May visited South Africa, Nigeria and Kenya on her three-day Africa tour and announced £4 billion ($5.1 billion) of extra British support for African economies in order to overtake the U.S.to become the continent's biggest investor by 2022.

"As it is, nearly all African countries have loans or grants from China, so it would make economic sense to repay in yuan", said MEFMI spokesperson Gladys Siwela-Jadagu.

Though the loans are due by the end of the year, the amount owed by indebted countries and developing nations across the continent will be written off, Xi said.

Another pledge that Beijing has fulfilled from its 2015 summit is expanding the renminbi settlement and currency swap operations with African countries, a pledge under its financial plan.

Nevertheless, he received a warm greeting from Xi, who told him he "welcomes Sudan's participation in the Belt and Road" and "opposes foreign interference in Sudan's internal affairs", Xinhua reported Sunday.

Ghana and a dozen others signed agreements before the start of the summit for China to build more roads, develop the aviation sector, improve healthcare delivery and many more projects in their countries.

The cooperation between China and Africa was "a forward looking partnership" not concerned only with the current - but also the future - challenges, he said.

President Buhari also, on behalf of ECOWAS member states, appreciated the Chinese government for its increasing investment in the African sub-region with the aim of building a prosperous and shared future.

"Africa is not a zero-sum game", Kagame said. China's exports to Africa grew by 2.7 per cent to $94.74 billion, while its imports rose by 32.8 per cent to $75.26 billion.

South African President Cyril Ramaphosa said the meeting in Beijing "refutes the view that a new colonialism is taking hold in Africa, as our detractors would have us believe".

He further disclosed that China will also get involved in governance and stay committed to the vision of consultation, cooperation and benefit for all in the global governance adding that his country reaffirms its commitment to peace, security, stability and development.

"It is through platforms like [this forum] that we should work to balance the structure of trade between Africa and China", Ramaphosa said. "Rather it is about greater openness, sharing and mutual benefit".

Ramaphosa's comprehensive speech, coming after his summit co-chairperson and Chinese President Xi Jinping committed an additional $60 billion investment to Africa over the next three years, appeared to hit the right notes.

He said that his country would support Africa's goal to achieve general food security by 2030, and work together to implement cooperation on agricultural modernisation programme. A total of 50 security help programmes would be implemented, ranging from United Nations peacekeeping missions to fighting piracy, he said.

China, he said, would set up a peace and security fund in partnership with Africa. A trade facilitation initiative to increase imports from Africa was also on the cards including 50,000 government scholarship and 50,000 training opportunities for seminars and workshops. "In West Africa, there has already been state-led efforts to boost soybean production".

"The rapid growth in Sino-African trade made China Africa's largest trading partner, he said".

However, President Buhari and other leaders of African countries, including Chairperson of the African Union (AU) Commission, Moussa Faki, led delegations to the summit, and Secretary General of the United Nations (UN), Antonio Guterres, as a special guest, while 27 global and African organizations are present as observers.

"Another perspective.is that those criticising China on debt give too little", said Kagame in an interview with the official Xinhua news agency.

Related Articles

Falcons coach Dan Quinn downplayed the importance of knowing for certain who the quarterback would be in a conference call Sunday. He had been splitting first-team reps with Foles, but will move back into a supporting role for at least this week.

The funeral was attended by several leaders, including former Vice President Joe Biden , who was an honorary pallbearer. She just cemented her father's legacy, not as a war hero and longtime US senator, but as an enemy of Donald Trump .

The last time the two sisters met at a Grand Slam was in the 2017 Australian Open final, where Serena prevailed in straight sets. Both sisters were asked after their wins about playing each other, and each of them delivered with some amusing quotes.

That's a 46 percent improvement in graphics processing power and a 178 percent jump in power efficiency over last year's Kirin. The company's sub-brand, Honor , announced the Magic 2 smartphone with Oppo Find X-like sliding camera module.

The gold dress is the fourth outfit Franklin has worn during a week of events leading up to her funeral . Her grandchildren and an obituary reading by her niece Sabrina Owens are also planned for Friday.

Acquiring Mack, a true pass rusher will give defensive coordinator Vic Fangio something to smile about. Oakland also included its second-round selection in 2020 and a conditional fifth-rounder that year.

He also knows about the boos, the crowd voicing their disapproval when he triumphed in 2011 and 2013 for the enemy Red Bull. However, Vettel remains wary of the threat posed by Mercedes and does not believe back-to-back race wins is a guarantee.

Organizers of Aretha Franklin's funeral insist today will be a "spiritual" and not a "concert, show or awards production". The singer, known as the Queen of Soul, died earlier this month of pancreatic cancer.

Junior Hoilett faces a late fitness test on a groin problem, while Aron Gunnarsson is rated doubtful with a knee injury. And, with Ozil apparently over his illness , he was back in the team at the Cardiff City Stadium.

Apple sent out invitations to press on Thursday for a special event on september 12 at the Steve Jobs Theater in Cupertino, CA. Apple's event comes a month after smartphone leader Samsung unveiled its latest flagship handset, the Galaxy Note 9.

Presents the cheapest top-end smartphone from Xiaomi Pocophone F1
Both the rear and front cameras are supported by AI features for photos, such as AI Portrait, AI Beautify, and AI Scene Detection. The Xiaomi Poco F1 is the most affordable smartphone to offer a flagship Snapdragon 845 processor along with up to 256GB storage.

Trump continues to bash Canada amid NAFTA negotiations
Prime Minister Justin Trudeau, left, reached out to former prime minister Brian Mulroney, centre, about the NAFTA negotiations. Canadian officials, speaking on background Saturday, said they were not going to respond to tweets .

Sony Xperia XZ3 is an expensive treat for your eyes
The phone comes with 4GB of RAM and 64GB of storage, and that is the only variant of the device that the company announced. The Xperia XZ3 features a 3,300mAh battery on the inside, and that battery is not removable, in case you were wondering.

England reveal the playing XI for the 4th Test
Indian pacers including Jasprit Bumrah , Ishant Sharma, Mohammad Shami did the job for Team India and bowled out England at 246. India not only has the momentum swinging in their favour but also a physical advantage compared to their English counterparts.